To boost B.C.'s lacklustre paycheques and protect British Columbians' standard of living, the province needs to tackle an unseen crisis: B.C.'s decade-long productivity decline.
The single biggest determinant of a jurisdiction's per-capita income and living standards is productivity performance. Countries that are innovative and able to adapt to shifts in the global economy will see high productivity and thus a superior standard of living.
In this regard, Canada and B.C have not fared well against competing jurisdictions. B.C. has seen its productivity levels fall in both a Canadian and international context. This has resulted in stagnant wage growth and a fall in B.C.’s share of Canadian GDP.
Despite these results, B.C. has seen successive governments ignore the need for a co-ordinated focus on improving the province's productivity.
Through partnerships with government, educators and trainers, the BC Chamber's goal is to develop programs and policy initiatives to enhance B.C.’s productivity performance.